PHARMA TECHNOLOGY: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
PHARMA TECHNOLOGY
NACE 32.990, Other manufacturing not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.8m
2024 · €4.3m-€565,117
Equity
€16.3m
2024 · €14.3m+€1.9m
Cash
€2.1m
2024 · €5.4m-€3.3m
Balance sheet total
€23.9m
2024 · €23.5m+€366,655
Largest movements
Assets
- Cash -€3.3m
down €3.3m (-60.7%), from €5.4m to €2.1m
mainly Contributions, distributions and other (-€1.8m) and Stocks and contracts (-€1.7m)
- Stocks and contracts +€1.7m
up €1.7m (+32.2%), from €5.3m to €7.0m
of which Stocks: +€899,098
- Receivables within one year +€1.4m
up €1.4m (+31.7%), from €4.4m to €5.8m
of which Trade receivables: +€1.2m
- Current investments +€849,493
new in 2025: €849,493
- Tangible fixed assets -€398,194
down €398,194 (-6.7%), from €6.0m to €5.6m
of which Land and buildings: -€324,955
Equity and liabilities
- Other debts -€1.5m
down €1.5m (-38.8%), from €3.8m to €2.3m
- Reserves +€973,270
up €973,270 (+128.9%), from €754,818 to €1.7m
of which Tax-exempt reserves: +€552,270
- Profit (loss) carried forward +€500,099
up €500,099 (+3.9%), from €12.7m to €13.2m
- Investment grants +€471,128
up €471,128 (+58.3%), from €808,410 to €1.3m
- Advances received +€336,108
up €336,108 (+50.8%), from €662,178 to €998,286
Income statement
- Goods and materials +€1.2m
up €1.2m (+11.7%), from €10.4m to €11.6m
of which Purchases: +€2.3m
- Staff costs +€511,025
up €511,025 (+10.4%), from €4.9m to €5.4m
- Services and other goods +€346,375
up €346,375 (+5.8%), from €5.9m to €6.3m
- Turnover +€316,856
up €316,856 (+1.2%), from €26.5m to €26.8m
- Financial income -€312,579
down €312,579 (-50.5%), from €618,484 to €305,905
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€4.3m
Turnover
+€316,856
Other operating income
+€67,460
Goods and materials
-€1.2m
Services and other goods
-€346,375
Staff costs
-€511,025
Depreciation
+€80,709
Write-downs
+€154,079
Provisions
-€23,346
Other operating charges
+€423
Other operating items
+€1.3m
Financial income
-€312,579
Financial charges
-€151,561
Taxes
+€101,218
Result 2025
€3.8m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€888,936
Investment
-€1.9m
Financing
-€2.2m
Cash 2024
€5.4m
From operations (derived)
+€888,936
Net result for the year
+€3.8m
Depreciation
+€1.4m
Stocks and contracts
-€1.7m
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€27,610
Provisions
+€27,152
Trade debts
-€101,603
Tax, wage and social debts
+€189,842
Advances received
+€336,108
Other debts
-€1.5m
Accrued charges and deferred income
-€162,298
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€1.1m
Current investments
-€849,493
Financing
-€2.2m
Debts after one year
-€283,090
Current portion of long-term debt
+€32,622
Short-term financial debts
-€161,146
Contributions, distributions and other
-€1.8m
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,543,581 | €23,910,237 | +€366,655 | +1.6% |
| Fixed assets | 21/28 | €8,262,719 | €7,947,376 | -€315,343 | -3.8% |
| Intangible fixed assets | 21 | €2,289,241 | €2,361,323 | +€72,082 | +3.1% |
| Tangible fixed assets | 22/27 | €5,973,154 | €5,574,960 | -€398,194 | -6.7% |
| Land and buildings | 22 | €5,057,100 | €4,732,145 | -€324,955 | -6.4% |
| Plant, machinery and equipment | 23 | €252,638 | €219,754 | -€32,884 | -13.0% |
| Furniture and vehicles | 24 | €637,416 | €597,060 | -€40,356 | -6.3% |
| Other tangible fixed assets | 26 | €26,000 | €26,000 | = | 0.0% |
| Financial fixed assets | 28 | €325 | €11,094 | +€10,769 | +3318.7% |
| Other financial fixed assets | 284/8 | €325 | €11,094 | +€10,769 | +3318.7% |
| Shares | 284 | €325 | - | -€325 | |
| Amounts receivable and cash guarantees | 285/8 | - | €11,094 | +€11,094 | |
| Current assets | 29/58 | €15,280,862 | €15,962,861 | +€681,998 | +4.5% |
| Stocks and contracts in progress | 3 | €5,263,690 | €6,957,538 | +€1.7m | +32.2% |
| Stocks | 30/36 | €5,263,690 | €6,162,788 | +€899,098 | +17.1% |
| Raw materials and consumables | 30/31 | €3,484,343 | €3,953,518 | +€469,175 | +13.5% |
| Work in progress | 32 | €604,245 | €1,018,653 | +€414,409 | +68.6% |
| Finished goods | 33 | €1,175,103 | €1,190,617 | +€15,514 | +1.3% |
| Contracts in progress | 37 | - | €794,749 | +€794,749 | |
| Amounts receivable within one year | 40/41 | €4,381,300 | €5,770,165 | +€1.4m | +31.7% |
| Trade receivables | 40 | €3,872,161 | €5,057,313 | +€1.2m | +30.6% |
| Other amounts receivable | 41 | €509,139 | €712,852 | +€203,713 | +40.0% |
| Current investments | 50/53 | - | €849,493 | +€849,493 | |
| Other investments | 51/53 | - | €849,493 | +€849,493 | |
| Cash at bank and in hand | 54/58 | €5,403,586 | €2,125,770 | -€3.3m | -60.7% |
| Deferred charges and accrued income | 490/1 | €232,285 | €259,895 | +€27,610 | +11.9% |
| Total equity and liabilities | 10/49 | €23,543,581 | €23,910,237 | +€366,655 | +1.6% |
| Equity | 10/15 | €14,310,624 | €16,255,121 | +€1.9m | +13.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €754,818 | €1,728,088 | +€973,270 | +128.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €748,621 | €1,300,891 | +€552,270 | +73.8% |
| Distributable reserves | 133 | - | €421,000 | +€421,000 | |
| Profit (loss) carried forward | 14 | €12,685,422 | €13,185,521 | +€500,099 | +3.9% |
| Investment grants | 15 | €808,410 | €1,279,539 | +€471,128 | +58.3% |
| Provisions and deferred taxes | 16 | €230,221 | €257,373 | +€27,152 | +11.8% |
| Provisions for liabilities and charges | 160/5 | €92,604 | €130,931 | +€38,327 | +41.4% |
| Other liabilities and charges | 164/5 | €92,604 | €130,931 | +€38,327 | +41.4% |
| Deferred taxes | 168 | €137,618 | €126,442 | -€11,176 | -8.1% |
| Amounts payable | 17/49 | €9,002,736 | €7,397,742 | -€1.6m | -17.8% |
| Amounts payable after more than one year | 17 | €828,346 | €545,256 | -€283,090 | -34.2% |
| Financial debts | 170/4 | €828,346 | €545,256 | -€283,090 | -34.2% |
| Credit institutions | 173 | €828,346 | €424,320 | -€404,026 | -48.8% |
| Other loans | 174 | - | €120,936 | +€120,936 | |
| Amounts payable within one year | 42/48 | €8,004,635 | €6,845,029 | -€1.2m | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €479,936 | €512,558 | +€32,622 | +6.8% |
| Financial debts | 43 | €183,911 | €22,765 | -€161,146 | -87.6% |
| Credit institutions | 430/8 | €183,911 | €22,765 | -€161,146 | -87.6% |
| Trade debts | 44 | €2,265,192 | €2,163,589 | -€101,603 | -4.5% |
| Suppliers | 440/4 | €2,265,192 | €2,163,589 | -€101,603 | -4.5% |
| Advances received on contracts in progress | 46 | €662,178 | €998,286 | +€336,108 | +50.8% |
| Taxes, remuneration and social security | 45 | €657,989 | €847,831 | +€189,842 | +28.9% |
| Taxes | 450/3 | €119,888 | €174,494 | +€54,606 | +45.5% |
| Remuneration and social security | 454/9 | €538,101 | €673,337 | +€135,236 | +25.1% |
| Other amounts payable | 47/48 | €3,755,428 | €2,300,000 | -€1.5m | -38.8% |
| Accrued charges and deferred income | 492/3 | €169,755 | €7,457 | -€162,298 | -95.6% |
| Operating income | 70/76A | €27,434,699 | €29,101,517 | +€1.7m | +6.1% |
| Turnover | 70 | €26,456,268 | €26,773,124 | +€316,856 | +1.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €57,045 | €1,224,672 | +€1.2m | +2046.9% |
| Own construction capitalised | 72 | €592,757 | €707,631 | +€114,874 | +19.4% |
| Other operating income | 74 | €328,630 | €396,091 | +€67,460 | +20.5% |
| Operating charges | 60/66A | €23,006,973 | €24,875,986 | +€1.9m | +8.1% |
| Goods for resale, raw materials and consumables | 60 | €10,425,608 | €11,649,086 | +€1.2m | +11.7% |
| Purchases | 600/8 | €9,775,377 | €12,118,261 | +€2.3m | +24.0% |
| Change in stocks: decrease (increase) | 609 | €650,231 | -€469,175 | -€1.1m | |
| Services and other goods | 61 | €5,941,954 | €6,288,330 | +€346,375 | +5.8% |
| Remuneration, social security and pensions | 62 | €4,933,710 | €5,444,735 | +€511,025 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,472,826 | €1,392,116 | -€80,709 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €163,538 | €9,459 | -€154,079 | -94.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €14,981 | €38,327 | +€23,346 | +155.8% |
| Other operating charges | 640/8 | €54,356 | €53,933 | -€423 | -0.8% |
| Operating profit (loss) | 9901 | €4,427,726 | €4,225,531 | -€202,195 | -4.6% |
| Financial income | 75/76B | €618,484 | €305,905 | -€312,579 | -50.5% |
| Recurring financial income | 75 | €618,484 | €305,905 | -€312,579 | -50.5% |
| Income from financial fixed assets | 750 | €115,030 | €60,001 | -€55,029 | -47.8% |
| Income from current assets | 751 | - | €17,752 | +€17,752 | |
| Other financial income | 752/9 | €503,454 | €228,152 | -€275,302 | -54.7% |
| Financial charges | 65/66B | €138,338 | €289,899 | +€151,561 | +109.6% |
| Recurring financial charges | 65 | €138,338 | €289,899 | +€151,561 | +109.6% |
| Debt charges | 650 | €47,942 | €36,709 | -€11,233 | -23.4% |
| Other financial charges | 652/9 | €90,396 | €253,190 | +€162,794 | +180.1% |
| Profit (loss) for the period before taxes | 9903 | €4,907,872 | €4,241,536 | -€666,335 | -13.6% |
| Transfer from deferred taxes | 780 | €11,176 | €11,176 | = | 0.0% |
| Income taxes | 67/77 | €580,561 | €479,343 | -€101,218 | -17.4% |
| Taxes | 670/3 | €580,561 | €479,343 | -€101,218 | -17.4% |
| Profit (loss) for the period | 9904 | €4,338,486 | €3,773,369 | -€565,117 | -13.0% |
| Transfer from tax-exempt reserves | 789 | €26,605 | €447,605 | +€421,000 | +1582.4% |
| Transfer to tax-exempt reserves | 689 | - | €999,875 | +€999,875 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,365,091 | €3,221,099 | -€1.1m | -26.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.